Truck Delivery App Wins Saudi Funds to Expand in Middle East - Bloomberg:
Trukker, a digital marketplace for land freight based in the U.A.E, has raised one of the largest initial rounds of capital for a startup in the region.
The $23 million financing round, known in the industry as Series A, is being led by STV, a $500 million Saudi technology venture capital fund that previously invested in Careem, the U.A.E.-based ride-hailing company that was acquired by Uber for $3.1 billion in March.
The fund raising would be the fourth-largest Series A on record for the Middle East, according to data from research firm MAGNiTT. The average venture investment in delivery and transport projects in the region is $2.9 million year-to-date, according to a MAGNiTT report.
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